Paul Burkhardt

Cape Town

Journalist (@Business @BBGAfrica) covering energy -- oil/gas, renewables, power and labor in South Africa and sub-Sahara. Retweets not endorsements.

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Articles

Developer Globeleq Sees Risk 'Reset' for African Power Projects

1 week ago | financialpost.com | Paul Burkhardt

Article content(Bloomberg) — The next wave of power project deals in Africa face a “reset” to better account for risks, including political unrest and damage from climate change, as the continent looks to add significant generation capacity, according to developer Globeleq Inc.‘s chief executive officer. Sign In or Create an AccountArticle contentWe apologize, but this video has failed to load. Try refreshing your browser, ortap here to see other videos from our team.
Globeleq Sees Risk ‘Reset’ for African Power Projects

1 week ago | bloomberg.com | Paul Burkhardt

(Bloomberg) -- The next wave of power project deals in Africa face a “reset” to better account for risks, including political unrest and damage from climate change, as the continent looks to add significant generation capacity, according to developer Globeleq’s chief executive officer. The industry is set to reevaluate how it structures new projects and prices equity, Jonathan Hoffman, who was appointed to the top company post last month, said in an interview at his Cape Town office.
BP Loads First LNG Cargo at Floating Greater Tortue Project

1 week ago | bloomberg.com | Paul Burkhardt

The floating LNG vessel at the Greater Tortue Ahmeyim project off Senegal and Mauritania. (Bloomberg) -- BP Plc started liquefied natural gas shipments from the Greater Tortue Ahmeyim project off Senegal and Mauritania, bolstering global supplies following a halt to Russian gas transit via Ukraine.
Tullow Ends 10-Year Quest for Kenya Oil With $120 Million Sale

1 week ago | news.bloombergtax.com | Paul Burkhardt

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Tullow Ends 10-Year Quest for Kenya Oil With $120 Million Sale

1 week ago | news.bloomberglaw.com | Paul Burkhardt

Tullow Oil Plc will sell its oil assets in Kenya for $120 million, after struggling for more than a decade to develop discoveries in the East African nation. Tullow agreed to sell the fields to Gulf Energy Ltd., a Nairobi-based oil and gas trader, for an initial payment of $40 million, with the remainder spread over subsequent years, according to a statement on Tuesday.
South African Stocks Tumble Most in Five Years on Trump Tariff Hit

3 weeks ago | bloomberg.com | Khuleko Siwele |Paul Burkhardt

South African stocks plunged the most in five years as steep US tariffs on the country’s exports cloud the outlook for corporate profits and the economy. The FTSE/ JSE Africa Africa All Share Index fell as much as 4.5% in Johannesburg, its biggest drop since March 2020. Banks were the biggest drag by index points, while other South Africa Inc. sectors including telecommunications, personal care, retail and life insurance also took a hit.
Nigeria Hires Ex-CEO of Shell Unit to Lead State Oil Company (1)

3 weeks ago | news.bloomberglaw.com | Ruth Olurounbi |Paul Burkhardt

Nigerian President Bola Tinubu hired the former head of a unit of Shell Plc to run the state oil company, as Africa’s biggest crude producer works to boost output and prepare the firm for an initial public offering. Bashir Ojulari will replace Mele Kyari as head of NNPC Ltd. with immediate effect, presidency spokesman Bayo Onanuga said in a statement.
Nigeria Hires Ex-CEO of Shell Unit to Lead State Oil Company

3 weeks ago | financialpost.com | Ruth Olurounbi |Paul Burkhardt

Bashir Ojulari will replace Mele Kyari as head of NNPC Ltd. with immediate effect, presidency spokesman Bayo Onanuga said in a statement. Ojulari most recently served as chief operating officer of Renaissance Africa Energy Co., and previously led Shell Nigeria Exploration and Production Co.The new board has been asked to conduct a strategic review of NNPC-operated and joint venture assets “to ensure alignment with value-maximization objectives,” Onanuga said.
Nigeria Hires Ex-CEO of Shell Unit to Lead State Oil Company

3 weeks ago | bloomberg.com | Ruth Olurounbi |Paul Burkhardt

Nigerian President Bola Tinubu appointed the former head of a unit of Shell Plc to run the state oil company, as Africa’s biggest crude producer works to boost output and revive local refining capacity. Bashir Ojulari will replace Mele Kyari as head of NNPC Ltd. with immediate effect, presidency spokesman Bayo Onanuga said in a statement. Ojulari most recently served as chief operating officer of Renaissance Africa Energy Co., and previously led Shell Nigeria Exploration and Production Co.
South Africa's Embattled Eskom Allowed to Breach Emission Rules

3 weeks ago | financialpost.com | Paul Burkhardt

Lethabo, Kendal, Tutuka, Majuba, Matimba and Medupi plants were given a five-year exemption, while Duvha and Matla were given extension until 2034, Environment Minister Dion George said at a briefing in Cape Town. Five other plants run by Eskom, the nation’s biggest emitter of greenhouse gases, were granted exemption until 2030 in June. The most-industrialized nation in Africa relies on coal for more than 80% of electricity generation.